Daily Chart Report π Tuesday, February 4, 2025
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Todayβs Summary
Tuesday, February 4, 2025
Indices: Russell 2000 +1.41% | Nasdaq +1.26% | S&P 500 +0.72% | Dow +0.30%
Sectors: 6 of the 11 sectors closed higher. Energy led, gaining +2.10%. Utilities lagged, falling -0.88%.
Commodities: Crude Oil futures fell -0.63% to $72.70 per barrel. Gold rose +0.65% to $2,876 per oz.
Currencies: The US Dollar Index dropped -0.39% to $107.99.
Crypto: Bitcoin fell -3.62% to $97,786. Ethereum dropped -5.26% to $2,732
Volatility: The Volatility Index dropped -7.58% to 17.20.
Interest Rates: The US 10-year Treasury yield dropped to 4.513%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by Jeff Weniger (@JeffWeniger).
- The US Dollar Index ($DXY) reversed sharply lower yesterday after flirting with multi-year highs. It continued south today, closing slightly below $108.
- Jeff points out that $DXY has rarely been above $108 over the past 35 years. However, when it has been above this critical threshold, Tech stocks have historically underperformed.
- Tech has been the worst-performing sector year-to-date, but it could reassert its leadership if $DXY continues below $108 in the coming weeks.
The Takeaway: The US Dollar ($DXY) closed slightly below $108 today after reversing sharply lower yesterday. If $DXY continues below this key level, Tech stocks could get their groove back.
Top Links
Today's Number is... 2 - The Daily Number π―
Grant Hawkridge looks at how the S&P 500 has historically performed in February.
Walmart, Costco, and Sprouts: The Ultimate Trade War Survivors? - StockCharts.com
Kurt Montevirgen highlights three leaders within the Consumer Staples sector.
Thereβs Always a Reason to Sell - Alfonso's Daily Note
Alfonso De Pablos reminds us to tune out the noise and focus on the trend.
Technical Tuesday's π with The Chart Report
Here's today's recording of our weekly spaces. Join us every Tuesday at 11 am ET to talk charts, trades, and more!
Quote of the Day
"It is wise to remember that too much success in the stock market is in itself an excellent warning."
- Gerald Loeb